Corporate GovernanceJun 18, 2026, 04:52 PM
Centrus Energy Extends Section 382 Rights Agreement to 2029
AI Summary
Centrus Energy Corp. extended its Section 382 Rights Agreement through June 30, 2029, with stockholder approval at its annual meeting. This amendment is designed to preserve the company's substantial net operating loss carryforwards (NOLs) for federal income tax purposes and increased the preferred stock purchase price. Additionally, the company appointed Yanhong Dai as its principal accounting officer, effective June 18, 2026, while Todd M. Tinelli remains CFO.
Key Highlights
- Centrus Energy extended its Section 382 Rights Agreement to June 30, 2029.
- The extension aims to preserve the long-term value of net operating loss carry-forwards (NOLs).
- The purchase price for preferred stock increased from $160.38 to $1,143.95.
- Yanhong Dai was appointed Principal Accounting Officer, effective June 18, 2026.
- Ms. Dai's annual base salary is $250,000, with a 40% target cash incentive.
- The Rights Agreement amendment was approved by stockholders at the annual meeting.
- Approximately 67% of Class A common stock shares were present at the annual meeting.
Price Impact
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